We have been made aware that the Government are embarking on a major initiative to ensure companies are well prepared for the end of the transition period. As all members are aware by now new rules and processes will be in place from 1/1/21 on any goods being imported or exported with the EU. Whilst many questions remain around what our trading relationship will be with the EU, there is a lot of preparation companies can do now to ensure they are as prepared for the change as possible.
HMRC will be contacting any company that have imports or exports with the EU over £250k per annum, this is the first stage of engagement to every trader they consider to be a High value trader (HVT). The plan is to then reach out to the over 11,000 companies to offer guidance and support from a range of Government departments. At the BFFF we are concerned at the capacity the Government departments have to cope with individual support for each trader, also that businesses under this turnover threshold will not have this support.
The BFFF Brexit guidance will be kept up to date to ensure we provide members with clear guidance and support as we approach what could be a difficult period. If any member considers they meet the HVT threshold but have not yet received communication from HMRC then please contact the BFFF and we will provide help.